Bally's Sees Sharply Wider Loss In Q4, Expects Revenue Growth

RTTNews | 625 days ago
Stocktwits
Bally's Sees Sharply Wider Loss In Q4, Expects Revenue Growth

(RTTNews) - While reporting preliminary results for the fourth quarter and full year 2022 on Monday, casino-entertainment company Bally's Corp. (BALY) said it expects to report a net loss of $476.80 million, including non-cash goodwill and asset impairment charges of $464.0 million, compared to a net loss of $115.29 million in the year-ago quarter.

The company also sees revenues of $576.7 million for the fourth quarter, compared to $547.67 million last year.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.01 per share on revenues of $568.89 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company projects revenues between $2.5 billion and $2.6 billion for the year. The Street is looking for revenues of $2.46 billion for the year.

Separately, the company announced that CEO Lee Fenton will step down and Robeson Reeves, President - Interactive, will take over as the new CEO, effective March 31, 2023. Additionally, George Papanier, long-time Bally's executive, will become Bally's sole President.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: BALY
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Bally's Announces Construction And Financing Arrangement For Bally's Chicago Casino

Bally's Announces Construction And Financing Arrangement For Bally's Chicago Casino

Casino-entertainment company Bally's Corp. (BALY) announced Friday a refreshed Bally's Chicago Casino permanent site plan that features a planned 500-room, 34-story hotel tower into a single-phase construction project at the 30-acre former Tribune Publishing site, pending approval of the Chicago Department of Planning & Development.
RTTNews | 110 days ago
Indonesia Stock Market May Take Further Damage On Thursday

Indonesia Stock Market May Take Further Damage On Thursday

The Indonesia stock market has finished lower in six straight sessions, dropping more than 230 points or 3 percent along the way. The Jakarta Composite Index now rests just beneath the 7,570-point plateau and it's tipped to open in the red again on Thursday.
RTTNews | 4h 19min ago
Hong Kong Bourse May Extend Wednesday's Losses

Hong Kong Bourse May Extend Wednesday's Losses

The Hong Kong stock market on Wednesday wrote a finish to the three-day winning streak in which it had improved more than 200 points or 0.9 percent. The Hang Seng Index now sits just above the 20,380-point plateau and it's expected to open to the downside again on Thursday.
RTTNews | 4h 49min ago
Japan Retail Sales Gain 0.5% On Year In September

Japan Retail Sales Gain 0.5% On Year In September

The value of retail sales in Japan was up 0.5 percent on year in September, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 13.489 trillion yen.
RTTNews | 4h 56min ago
China Shares Expected To Open In The Red

China Shares Expected To Open In The Red

The China stock market has moved lower in consecutive trading days, slipping more than 55 points or 1.7 percent along the way. The Shanghai Composite now sits just above the 3,265-point plateau and it's looking at another soft start again on Thursday.
RTTNews | 5h 19min ago
Losing Streak May Continue For Taiwan Shares

Losing Streak May Continue For Taiwan Shares

The Taiwan stock market has moved lower in three straight sessions, stumbling more than 525 points or 2.5 percent along the way. The Taiwan Stock Exchange now rests just above the 22,820-point plateau and it may take further damage again on Thursday.
RTTNews | 5h 49min ago
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